Northern Petroleum: Charts & Fundamentals

Some News to cheer us all up;





Embargoed: 0700hrs on 29 December 2005


Northern Petroleum Plc

("Northern")

Update: Agreements with Nederlandse Aardolie Maatschappij B.V. in the
Netherlands

Under agreements signed on 11th August 2005 ("the Agreements") between
Northern's wholly owned Netherlands subsidiary, NP Netherlands B.V. ("NPN") and
Nederlandse Aardolie Maatschappij B.V. ("NAM"), a company jointly owned by
Shell and ExxonMobil, NPN has, after a period of due diligence to permit a full
technical review of the licences held by NAM, exercised various options.

Undeveloped Discoveries:

Licence Discovery Status NPN Anticipated Interest

Drenthe Grolloo Committed 60%

Andel II Brakel Committed 100%

Andel II Andel Committed 100%

The exercise of these three options brings the number of discoveries that NPN
has committed to under the Agreements to five following the earlier exercise of
the options over the Geesbrug and Ottoland discoveries as announced on 12th
August 2005.

NAM will now arrange the licence split and assignment of its participating
interest in the three committed discoveries to NPN who will immediately assume
operating responsibility after receipt of government approvals. The discoveries
are in two onshore part-areas within the Drenthe Licence and the Andell II
Licence, which is close to the Papekop discovery for which the Netherlands
Mining Council ("Mijnraad") has recommended the award of a production licence
to NPN.

Exploration Options:

Under the Agreements, NPN will also farm-in to an onshore exploration
part-area, in the Andel II Licence, and has agreed a two month extension to its
option with NAM on the Schagen prospect during which time NPN will complete its
due diligence. NPN will earn 50% of NAM's interests by drilling and covering
the combined NAM and NPN expenses of one exploration well in each part-area and
will subject to Government consent assume operatorship of the Andel II
exploration part-area. The Agreements provide for NPN to recover all dry hole
costs out of the pre-tax revenues from future discoveries and share the profits
from the jointly held stakes with NAM on an equal basis.

NPN estimates the unrisked gross in-place volumes of the identified oil and gas
prospects within the Andel II part area to be between 55 and 130 billion cubic
feet of gas and 62 and 148 million barrels of oil. NPN estimates unrisked gross
in-place volumes of gas in the remaining option to be between 200 and 270
billion cubic feet.

Derek Musgrove, Managing Director of Northern, commented:

"We have now committed to develop five of NAM's oil and gas discoveries in the
Netherlands alongside our Papekop project. The end of the process we are now
embarking upon will truly transform Northern into a significant producer of
oil, gas and electricity that is able to sustain growth out of cash flow."

For further information, please contact:

Northern Petroleum Plc
Chris Foss, Finance Director
Tel: 020 7743 6080